(16 April 2024) TERA teams up with Amalan Setar and AFFIN BANK to offer solar system packages to homebuyers. This partnership marks a significant step towards promoting sustainability and long-term cost savings for homeowners, demonstrating that transitioning to solar power can be both environmentally friendly and economically feasible.
Amalan Setar is set to hand over 200 affordable housing units in Rawang this year, with an additional 800 to 900 units expected to be completed and sold over the next couple of years. TERA’s solar system solution will be providing homeowners with a greener and more cost-effective energy source.
“The perception of buyers is that switching to solar power is very costly, but this collaboration will show that sustainability can be affordable,” says Amalan Setar Director Datuk Adrian Soon. With the support of AFFIN BANK, which has introduced an attractive financing package, homeowners will have access to a comprehensive solution that fits the type of housing Amalan Setar develops.
In addition to the financing solutions and cost savings from reduced electricity bills, homeowners can achieve a more positive cash flow by taking advantage of Tenaga Nasional Bhd’s Solar for Rakyat Incentive Scheme (SolaRIS). This government-backed initiative offers a one-off RM4,000 cash rebate upon installation of solar photovoltaic (PV) systems to power homes. This represents a notable increase from the previous RM2,500 tax relief incentive.
“Households using over 1,500 kWh of electricity might see up to RM150 extra in their bills. Switching to solar PV systems provides Malaysians with a viable alternative to power generation that can reduce their costs of living by a minimum of RM1,000 to RM1,500,” said Michael Leong, Tera Va managing director.
Through this collaboration, TERA aims to make solar power more accessible and affordable, paving the way for a greener and more sustainable future.
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